Career moves

Gail P. Seneca, chairman and chief executive officer of Luminent Mortgage Capital, has announced that she will leave her position as CEO of Seneca Capital Management by the end of the year to focus exclusively on Luminent."Luminent is evaluating [the possibility of] expanding its mortgage platform beyond the agency-spread arbitrage sector of the mortgage-backed securities market," Ms. Seneca said. "We appointed a highly experienced mortgage finance professional as president in March 2005. Today's announcement continues the momentum at Luminent to expand and improve our business model and results." The company can be found on the Web at http://www.luminentcapital.com.

Maria Fregosi has been promoted to the executive committee of ABN Amro Mortgage Group, Ann Arbor, Mich., where she will assume responsibility for AAMG's pricing strategies and secondary marketing activities.Ms. Fregosi will also continue to oversee AAMG's capital markets division, AMCAP. "The integration of capital markets, secondary markets, and pricing strategies enables AAMG to tightly link its front-end pricing with its investor activities," said company chairman and chief executive officer Thomas M. Goldstein. Ms. Fregosi served most recently as group senior vice president for the AMCAP division and was responsible for the development of its ABN Amro mortgage conduit program, master servicing group, and commercial mortgage securitization program, the company said.

Eric Spence has been named executive vice president of national production, prime lending, at Countrywide Financial Corp., Calabasas, Calif.Mr. Spence will be responsible for the production and market share growth of the Wholesale Lending Division, the company said. A 19-year veteran of the mortgage industry, Mr. Spence was most recently EVP for the western division of Countrywide's wholesale branch system. He was previously EVP of production at Washington Mutual. Mr. Spence was also senior vice president for WaMu's Wholesale Lending Division, and was SVP of wholesale lending for American Savings Bank before it was acquired by WaMu. "Eric's promotion brings greater collaboration and synchronization across the wholesale lending channel, with the West, Central, and East divisions now operating their sales efforts under the guidance of a single executive," said Brian Robinett, managing director of prime lending for Countrywide wholesale lending. Countrywide can be found online at http://www.countrywide.com.

Mortgage banking veteran Bill Steinmetz has been hired to lead the Wholesale Production Operations group of Washington Mutual Inc., Seattle.Mr. Steinmetz, 44, will assume the new post on May 2 and will oversee WaMu's national network of wholesale loan fulfillment centers, the company said. He will be located in Jacksonville, Fla., and will report to Wayne Pollack, the company's division executive of home loans production operations. Mr. Steinmetz, who has more than 20 years of experience in the mortgage industry, previously served as senior vice president of business-to-business operations for Chase Home Finance, where he managed the company's wholesale and correspondent operations, B2B pricing, and registration and operations support, WaMu said.

Steven M. Abreu has been named president and chief executive officer of GreenPoint Mortgage, a wholly owned subsidiary of North Fork Bancorp., Melville, N.Y.Mr. Abreu succeeds S. A. Ibrahim, who was recently named to take over as CEO of Radian Group Inc., a Philadelphia-based mortgage insurer, from the retiring Frank Filipps. Mr. Abreu has held numerous management posts at GreenPoint and its predecessor since 1988, most recently as an executive vice president responsible for production, sales, secondary marketing, investor relations, and new business.

F. Scott Kellman has been named senior vice president for business development at Health Care Property Investors Inc., a real estate investment trust based in Long Beach, Calif.The REIT said the appointment is effective June 1. Mr. Kellman is currently treasurer and senior vice president for corporate finance and real estate at Tenet Healthcare Corp., a for-profit operator of acute care hospitals. He was previously chief operating officer of Omega Healthcare Investors Inc., a health care REIT. Before that, he founded a health care REIT that merged with Omega. Health Care Property Investors can be found online at http://www.hcpi.com.

Julie Joseforsky has been named president of Key Mortgage Services, a component of Cleveland-based KeyBank's consumer finance unit, and Marc Rittenhouse has been named president of Secolink Settlement Services, a unit of Key Mortgage.Ms. Joseforsky was most recently the chief administrative officer of Key Consumer Finance. She previously held positions as director of direct lending and director of compliance for Household International, KeyBank said. Mr. Rittenhouse was most recently senior vice president of operations for ATM Corp. of America. KeyBank's parent company, KeyCorp, can be found on the Web at http://www.key.com.

Eric B. Dana has been named senior vice president and chief financial officer of Triad Guaranty Insurance Corp., a mortgage insurance provider based in Winston-Salem, N.C.Mr. Dana was most recently CFO with The Bankers Bank, Atlanta, and he was previously employed as chief operating officer and CFO by Lighthouse Financial Services, according to Triad. Triad Guaranty Insurance, a subsidiary of Triad Guaranty Inc., can be found on the Web at http://www.triadguaranty.com.

S.A. Ibrahim, a 27-year veteran of the banking and mortgage industries, has been named chief executive officer of Radian Group Inc., a Philadelphia-based mortgage insurer and provider of credit enhancement products and services.Mr. Ibrahim, 53, succeeds Frank Filipps, who is retiring from Radian. The appointment is effective May 5. Mr. Ibrahim was most recently president and chief executive officer of GreenPoint Mortgage, and he was previously GreenPoint's chief operating officer, leading the company through the acquisition of Headlands Mortgage, Radian said. Mr. Ibrahim was also employed by American Express and by the mortgage lending unit of Chemical Banking Corp., where he was CEO and COO.

Angelo Mozilo, chairman and chief executive officer of Countrywide Financial Corp., was the ninth-highest paid CEO among the 500 largest American public companies last year, according to a list compiled by Forbes.com.Forbes calculated Mr. Mozilo's 2004 compensation at $96.9 million and said he owned $40.5 million of company shares. Other mortgage-related CEOs among the top 100 in 2004 included Richard Kovacevich of Wells Fargo, who was 12th with $53.1 million in compensation; Robert Toll of Toll Brothers, 13th with $50.2 million; Jerry Grundhofer of US Bancorp, 21st at $38.6 million; William Foley of Fidelity National Financial, 32nd at $33.9 million; Edward Linde of Boston Properties, 48th at $24.2 million; Robert Wilmers of M&T Bank, 80th at $16.4 million; Kerry Killinger of Washington Mutual, 83rd at $15.7 million; and Ara Hovnanian of Hovnanian Enterprises, 99th at $13.4 million.

David Van Ess, an attorney experienced in mortgage-related litigation, has been named executive vice president of national operations at the LOGS Network, a Northbrook, Ill.-based network of attorneys, trustees, title personnel, and collection staff that represent lenders.Mr. Van Ess was previously Florida operations manager for Codilis & Stawiarski PA, where he managed foreclosure, bankruptcy, title, eviction, and real-estate-owned closing services, the network said. He was also LOGS attorney liaison for Fleet Mortgage, and he helped resolve litigation involving the Real Estate Settlement Procedures Act and the Truth in Lending Act. LOGS can be found on the Web at http://www.logs.com.

Deutsche Bank is restructuring and expanding its Infrastructure Investments business, a unit in the bank's Deutsche Asset Management division."Previously an Australian-based operation, Infrastructure Investments will become a New York-based global business with an additional hub in London, while the Australian hub will be expanded to cover the whole of the Asia Pacific region," Deutsche Bank said. Deutsche Bank said it plans to call the business RREEF Infrastructure Investments and position it within RREEF/DB Real Estate, the real estate investment management group of Deutsche Asset Management. Shaun Mays, previously DeAM's head of Australia, has been appointed global head of RREEF Infrastructure Investments, while Felicity Gates, who was instrumental in building the infrastructure franchise in Australia, has been named chief investment officer. Both will relocate to New York, according to Deutsche Bank.

Larry Schiavi has been named senior vice president and national retail production manager for the Retail Lending Division of MortgageIT Holdings Inc., a residential mortgage company based in New York City.MortgageIT, a real estate investment trust, also announced the appointment of Doug Kerr as chief investment officer. Mr. Schiavi was most recently SVP and national production manager at HSBC Mortgage Corp., and previously served as SVP and retail sales manager at HSBC. Mr. Kerr was most recently director of treasury risk management at NetBank Inc. MortgageIT can be found on the Web at http://www.mortgageitholdings.com.

Jennifer S. Creech has been named chief production officer of DeepGreen Financial, a Cleveland-based home equity lender.Ms. Creech was most recently manager of the Northeast region at RBC Mortgage, a subsidiary of Royal Bank of Canada. She was previously regional sales manager for both Washington Mutual and PNC Mortgage, DeepGreen said. Touting the prospects of her new employer, Ms. Creech said DeepGreen "got a jump start on home equity" while other financial services companies were focused on the refinance market. DeepGreen is owned by Lightyear Capital, a New York City-based private equity investment firm. The companies can be found on the Web at http://www.deepgreenfinancial.com and http://www.lycap.com.

Builder Alexander Werzberger, of Montreal, has been named to the board of Canada Mortgage and Housing Corp. for a three-year term."Mr. Werzberger has been a respected member of the housing industry for many years and has won many awards for his work," said Canada's Minister of Housing and Labour, Joe Fontana. "His experience on the boards of provincial organizations, along with his years of community work, will be of great benefit to CMHC." A builder for over 45 years, Mr. Werzberger has built hundreds of residential buildings, as well as commercial facilities, during his career. The CMHC can be found online at http://www.cmhc-schl.ca.

Scott Hoen has been named executive vice president and group manager of the Fidelity National Real Estate Solutions division (formerly FNIS) of Fidelity National Financial Inc., Jacksonville, Fla.The company said Mr. Hoen has spent more than 15 years working with real estate agents, brokers, and lenders to develop technology solutions. He has been associated with Fidelity National Financial since 1997 and will be working out of the Santa Ana, Calif., facility. The company can be found on the Web at http://www.fidelityinfoservices.com.

Greg C. Smith has been elected to the board of directors of Fannie Mae and appointed to the board's audit and compensation committees.Mr. Smith, 53, is executive vice president of Ford Motor Co. and its president for the Americas. He has been with Ford since 1973, and has held executive posts that included chairman and chief executive officer of Ford Motor Credit Co., Fannie Mae reported. The government-sponsored enterprise can be found online at http://www.fanniemae.com.

Larry E. Moretti has been named executive vice president and chief administrative officer of ECC Capital Corp., a mortgage finance company based in Irvine, Calif.Mr. Moretti was most recently chief information officer and senior vice president of New Century Mortgage Corp., where he also served as chief administrative officer in 2001 and 2002, ECC Capital said. Steve Holder, ECC Capital's chairman and co-chief executive officer, said Mr. Moretti's appointment "represents ECC Capital's commitment to technology innovations that we believe will put us at the cutting edge of nonconforming lending."

Harold F. McElraft has been named chief financial officer and treasurer of Hanover Capital Mortgage Holdings Inc., a real estate investment trust based in Edison, N.J.Mr. McElraft, 60, succeeds J. Holly Loux, who left the mortgage REIT on April 12. Mr. McElraft has been a partner since 2002 in the New York office of Tatum CFO Partners LLP, a national firm of career CFOs that provides financial services, and he will remain a partner at the firm, Hanover Capital said. He was previously a department vice president with Prudential Financial Inc., Newark, N.J. Mr. McElraft has been a consultant to Hanover Capital since November 2004. The REIT can be found online at http://www.hanovercapitalholdings.com

Meanwhile, Parkway Properties, a real estate investment trust based in Jackson, Miss., announced the resignation of Marshall A. Loeb as chief financial officer and the appointment of Sarah P. Clark as interim CFO.Parkway said Mr. Loeb will remain with the office REIT until mid-May. Ms. Clark is senior vice president of strategic planning and investor relations at Parkway, and served as its CFO from 1994 through November 2000. The company can be found on the Web at http://www.parkwayco.com.